The Ethereum Foundation's unpopularity this time is entirely self-inflicted—

As an invisible shareholder in the Ethereum ecosystem, when the ecosystem is bleeding, the leader does not provide help in difficult times, but instead takes advantage of the situation to cash out, showing a complete collapse of faith.

This is like a company facing a major crisis, suppliers, customers, and employees are all trying to stabilize the situation, and then the chairman suddenly comes out and says:

I just reduced my shareholding a bit for long-term family expenses.

Is it legal? Yes, it's legal.

Is it ugly? It’s very ugly!

Recalling the DAO incident in 2016, the Ethereum Foundation was able to make the hard fork decision, directly splitting off ETC.

People criticized it, but at least that generation of EF knew it bore the political responsibility of Ethereum and dared to take action and take the blame.

The current EF gives me a sense of detachment from the people and a bureaucratic style:

It is unwilling to assume any responsibilities as an ecosystem leader while continuing to enjoy the halo of Ethereum's orthodoxy, and its role in the ecosystem has become quite marginal in recent years.

In contrast, Uniswap (a model of transparency), Solana/Arbitrum (a model of crisis response), and Optimism (a model of innovative governance) have all performed better than EF.

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